Délhús, Arago fined for Ft 30 million each
Monday, August 1, 2005, 11:42
The State Financial Institutions Supervision (PSzÁF) has fined Arago Investment Holding Rt and Délhús Rt for Ft 30 million each for a bargain that allowed the latter to exercise voting rights in excess of its own 33% at a Pick Rt general meeting, news portal Napi Online reported. This was possible as Arago was absent from the meeting, with Délhús controlling 99.9% of votes in breach of legal regulations pertaining to public shareholding companies. Although it can be appealed at the Budapest City Court, the PSzÁF decision is final and an appeal does not exempt the companies from the fine payment obligation within 30 days of receiving the verdict.